XML 23 R12.htm IDEA: XBRL DOCUMENT v3.25.1
ACCOUNT RECEIVABLE, NET
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
ACCOUNT RECEIVABLE, NET ACCOUNTS RECEIVABLE, NET
Accounts receivable balances are composed of trade and unbilled receivables. Unbilled accounts receivable represent revenue recorded in advance of processing formal invoices pursuant to the completion of contract provisions and, generally, become billable at contractually specified dates. Unbilled receivables of $6,715 and $5,925 as of March 31, 2025 and December 31, 2024, respectively, are expected to be invoiced and collected within one year. The Company records accounts receivable when its right to consideration becomes unconditional. Contract assets primarily relate to our rights to consideration for services provided that they are conditioned on satisfaction of future performance obligations. Accounts receivable, net, are stated at the amount the Company expects to collect, which is net of estimated losses resulting from the inability of its customers to make required payments.

The Company generally establishes customer credit limits and estimates the allowance for credit losses on a country or geographic basis. Customer credit limits are based upon an initial evaluation of the customer’s credit quality and we adjust that limit accordingly based upon ongoing credit assessments of the customer, including payment history and changes in credit quality. The allowance for expected credit losses is determined based on an assessment of past collection experience as well as consideration of current and future economic conditions and changes in our customer collection trends.

The following table summarizes the components of “Accounts receivable, net” as presented on the Condensed Consolidated Balance Sheets:
March 31,December 31,
Accounts Receivable:20252024
Billed receivables$14,793 $14,559 
Unbilled receivables6,715 5,925 
Accounts Receivable, Gross$21,508 $20,484 
Allowance for expected credit losses(227)(391)
Accounts Receivable, Net$21,281 $20,093 
The following table summarizes the total provision for expected credit losses and write-offs:
Three Months Ended March 31,
20252024
Beginning balance$391 $378 
Provision for expected credit losses6 (8)
Write-offs(170)(3)
Ending Balance$227 $367